Executive Director Tracye Polson
Shares Tips for Parents and Children During
Stressful Financial Times

  • First, parents and financial heads of households need to take care of themselves emotionally and physically during this stressful period of time. Caregivers will be unable to provide the emotional support and reassurance to their children if they are overly anxious and cannot contain that anxiety.
  • Always keep in mind your child's development and use this understanding as a guide for how much to say and when. Younger children won't understand too much detail. What they need is clear and simple language about what is happening or about to happen and then they need to be allowed to have their own emotional and behavioral reaction to it. A parent's job is to provide the support and containment and at the same time to set limits. For example, if parents decide that the family can no longer afford a particular activity they will need to inform the child in a calm, matter of fact manner and in a time frame that provides the child some time to absorb what the change means. Ideally, parents will be able to empathize with their child's feelings of loss, confusion and anger about the change. Often though, this can fuel guilt feelings in parents.
  • An effective way to reassure children is to be clear about what will happen and when and to let them know that even though mom/dad has lost her/his job, the parents are still in charge and will be taking the necessary steps to take care of the family. And in the meantime, we will be saving money by not eating out or going to the movies as much as before.
  • In the event a family loses their home and has to move, it is even more crucial that parents get support and guidance on how to handle a myriad of feelings that will be stimulated as a result of such substantial changes. Children may need to change schools and therefore they will need additional support, too.
  • In addition to allowing the feelings of anger, sadness, confusion and anxiety, it is important to focus on positive aspects of the family life that hasn't changed. This is something the whole family can participate in and can become part of working together during difficult times. Children and especially older children and teens will feel a part of working together as a family if they feel their ideas and voices are heard so ask them for their ideas on how the family can cut back and save money during tighter financial times.